Lawnside, New Jersey Property Taxes
The median property tax rate in Lawnside, NJ is 4.22%, considerably higher than both the national median of 0.99% and the New Jersey state median of 2.82%. With the median home value in Lawnside, the typical annual property tax bill reaches $5,710, exceeding the national median of $2,690. Property taxes in Lawnside are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Lawnside's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of Lawnside or another part of the city, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Lawnside, New Jersey Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
4.22%
Estimate Property Tax Bill
$5,716
Ownwell’s Lawnside Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Lawnside with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Lawnside to estimate your property tax bill. This insightful tool helps you understand potential tax liabilities. If you’re interested in seeing trends on a neighborhood level, scroll down to find more localized information. Your property’s assessed value is the value assigned by the county for property tax calculations, accounting for any exemptions that may apply.
Property Tax Rates Across Lawnside, New Jersey
Property taxes in Lawnside, New Jersey, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Lawnside is 4.22%, significantly higher than both the New Jersey state median and the U.S. national median of 0.99%. Local government entities within Lawnside set these rates annually, and they can vary significantly across different neighborhoods. Each year, Lawnside estimates its required budget to maintain services for the upcoming fiscal year, then divides this budget by the total value of all taxable property within the jurisdiction to calculate the property tax rate. While tax rates and budgets are influenced by laws and voter input, this calculation forms the basis of setting property tax rates. The data below compares Lawnside's effective property tax rate to other counties in New Jersey and the national median. For comparison, the zip code 08045 has both the highest and lowest median property tax rate of 4.22%. Understanding how these cities compare with Lawnside provides valuable insights into the varying tax landscape across Camden County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Lawnside Tax Rate
4.22%
Average Camden County Tax Rate
3.17%
Average New Jersey Tax Rate
2.82%
Average United States Tax Rate
0.99%
Property Tax Rates Across Lawnside, New Jersey
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 08045 | 4.22% | 4.22% | 4.22% | 4.22% | 4.22% |
Source: Ownwell
Property Tax Assessment Values Across Lawnside, New Jersey
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Lawnside, NJ. The market value is the price a willing buyer would pay a willing seller in an open and competitive market, influenced by factors like location, property condition, and economic trends. This value is estimated by the Camden County Assessor for tax purposes. In contrast, the assessed value is the market value minus any applicable exemptions or limits based on local laws and available programs. The assessed value is then used to calculate your property taxes by multiplying it by the combined tax rates of all relevant taxing entities. In Lawnside, assessment notices are typically mailed out in the spring, usually by mid-April. These notices provide homeowners with both the market and assessed values, along with an estimate of the annual property tax bill. By understanding the distinction between these valuation concepts, property owners can better navigate their tax responsibilities and comprehend how their property taxes are determined. Being aware of these valuation processes in Lawnside helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. Notably, the highest and lowest median tax bills in the area are both $5710, found in the 08045 zip code.
Average Lawnside Assessed Value
$135,439
Average Camden County Assessed Value
$216,803
Average New Jersey Assessed Value
$282,900
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Lawnside, New Jersey
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 08045 | $90,856 | $111,617 | $135,439 | $170,932 | $226,188 |
Source: Ownwell
Property Tax Bills Across Lawnside, New Jersey
In Lawnside, Camden County, NJ, property tax bills are calculated based on the assessed value of a home and the local tax rate. The assessed value is determined by local government assessments, reflecting a percentage of the property's market value. Homeowners in Lawnside face a median property tax rate higher than the national median of 0.99%. The median home price in Lawnside is $135,439, with property tax bills varying significantly. For instance, the 25th percentile tax bill is around $4,706, while the 75th percentile reaches $7,207, and the 90th percentile can be as high as $9,530. Several factors influence these tax bills, including property size, location, and any applicable exemptions or deductions. Higher property taxes in Lawnside can impact homeowners by increasing annual housing costs, potentially affecting affordability and long-term financial planning. Understanding these elements helps homeowners anticipate their tax obligations and manage their finances more effectively.
Average Lawnside Tax Bill
$5,710
Average Camden County Tax Bill
$7,089
Average New Jersey Tax Bill
$8,227
Average United States Tax Bill
$2,690
Property Tax Bills Across Lawnside, New Jersey
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 08045 | $3,831 | $4,706 | $5,710 | $7,207 | $9,530 |
Source: Ownwell